Last checked at 30 Jun 2016 17:10
The following amendment(s) have been made to the '2016 LTIP Awards' announcement released on30 June 2016 at 16.25 under RNS No 8717C.
Brian Gannon, Corporate Development Director has 50,000 shares and Grainne Burns, Company Secretary has 32,052 shares.
All other details remain unchanged.
The full amended text is shown below.
30 June 2016
Kainos Group plc
("Kainos" or the "Company)
2016 LTIP Awards
The Company announces that on 23 June 2016 share awards (the "Awards") approved by the Board of Directors of the Company under the Kainos Group Performance Share Plan (the "PSP"), in the form of nominal value options over ordinary shares of 0.5 pence each in the Company ("Ordinary Shares") were awarded to Executive Directors and PDMRs of the Company.
Awards have been granted to the three Executive Directors and two PDMRs, over a total of 250,962 ordinary shares.
Name | Title | Number of Shares |
Brendan Mooney | CEO | 56,410 |
Richard McCann | CFO/COO | 62,500 |
Paul Gannon | Sales Director | 50,000 |
Brian Gannon | Corporate Development Director | 50,000 |
Grainne Burns | Company Secretary | 32,052 |
Performance Conditions and Vesting of Awards
Awards will be subject to the rules of the PSP and the following conditions:
(i) Fifty per cent (50%) of the Award will be subject to earnings per share ("EPS") percentage growth target, over a three-year period up to the financial year ending 31 March 2019.
EPS Growth % of Award vesting
9% 30%
>9% but
≥16% 100%
(ii) Fifty per cent (50%) of the Award will be subject to total shareholder return ("TSR") performance condition, over a three-year period from date of grant.
TSR Growth % of Award vesting
9% 30%
>9% but
≥16% 100%
The number of shares subject to the Award was determined by using the average mid-market price for the 3 trading days before the date of the Award, this was 156.2p.
Timetable
Awards are expected to vest in June 2019, following the announcement of the Company's results for the year ended 31 March 2019 and completion of the TSR Growth measurement period.
Ends
For further information, please contact
Kainos | via FTI Consulting LLP |
Brendan Mooney, Chief Executive Officer |
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Brian Gannon, SVP Corporate Development |
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Investec Bank plc | +44 (0) 20 7597 5970 |
Dominic Emery / Sebastian Lawrence Patrick Robb / Matt Lewis |
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FTI Consulting LLP | +44 (0) 20 3727 1000 |
Matt Dixon / Chris Lane |
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Notes to Editors
Kainos Group plc is a high-growth UK-based provider of IT services, consulting and software solutions, specialising across multiple sectors in the development of digital technology solutions. These include software design and agile software development, third-party software integration and implementation services, technology support services and related ancillary services such as project management.
Kainos operates through three divisions: Digital Services, which delivers full system developments of customised online digital solutions; Evolve, the UK market leader in the digitisation of patient notes in the Acute sector of the NHS; and Workday Implementation Services, the only boutique partner for Workday, Inc. headquartered in the UK, responsible for implementing Workday's innovative Software-as-a-Service platform for enterprise customers.
Headquartered in Belfast, Northern Ireland, Kainos employs approximately 750 staff across seven offices (Belfast, Derry, Dublin, London, Bristol, Gdansk and Boston). Kainos is listed on the Main Market of the London Stock Exchange (KNOS). For further information please visit the company website: https://www.kainos.com/